This YouTube video has to be one of the best Paul Krugman performances I have ever seen. This is the video I mentioned in my previous blog post, Paul Krugman: ‘I’m sick of being Cassandra. I’d like to win for once’.

His explanation of why lack of demand is what is the real roadblock to business expansion is the one I keep harping on.

When I hear these conservatives give their remedies for what ails business, I want to shout out (and frequently do) “What part of no frigging demand do you not get?” Before I gave up watching Nightly Business Report, I used to see Susie Gharib interviewing the titans of business about what it would take to get them investing again. They would give all the same excuses you see in the above video. I kept posting on their Facebook page that she should ask them if having more customers would help. She never asked that question.

In the video I also liked the analogy with physicians trying to cure a patient’s declining vitality by increasing the amount of blood letting that they were doing. I often use that analogy myself.

I also just loved the moderator’s parting shot at one of his conservative guests, “Yes, you’ll have to come back some time and tell us all about the Estonian economy.”

The UK Guardian has this wonderful article Paul Krugman: ‘I’m sick of being Cassandra. I’d like to win for once’ .

The Krugman quote from this article that I have chosen to highlight is,

In an economy that produces $15tn worth of goods and services each year, $500m “is just not a big number”. Back in 2009, Krugman had warned: “By going with a half-baked stimulus, you’re going to discredit the idea of stimulus without saving the economy.” And that, he sighs, “is exactly what happened. Unfortunately it was one of those predictions that I wish I’d been wrong about. But it was dead on.”

“Discrediting the idea of stimulus without saving the economy” is exactly what I think Obama’s biggest sin has been.  This is why I get so steamed with Obama sometimes.

As great as this article is, the most valuable thing that may have come out of it is the comment that links to a YouTube video that I will blog about next.

The article Malcolm Gladwell Unmasked: A Look Into the Life & Work of America’s Most Successful Propagandist « naked capitalism: might come as a severe shock to liberal fans of Malcolm Gladwell.

In the vast ecosystem of corporate shills, which one is the most effective? Propaganda works best when it is not perceived as propaganda: nuance, obfuscation, distraction, suggestion, the subtle introduction of doubt—these are more effective in the long run than shotgun blasts of lies. The master of this approach is Malcolm Gladwell.

I only read about ⅔ of this article before I said to myself, “OK, I get the point.”  For those with more stamina than I have, could you please let me know if I missed something?

McClatchy has the story Biden: ‘A make or break moment for America’s middle class’.

Vice President Joe Biden stumped for the Democratic administration’s programs Wednesday, blaming the Republican Congress for blocking a raft of initiatives designed to help the middle class.

Biden ticked off a list of programs stymied by the Republican House, such as providing money to keep teachers and police from being laid off, tax credits for companies that bring businesses from overseas back home, new efforts for veterans, and efforts to help homeowners refinance their mortgages.

As one comment on the article had it, it’s about time the Obama administration started making this point.  The Republicans decry the loss of jobs for women without owning up to blocking funds to keep teachers on the job.

Did you ever notice that one way or another, the Republicans can always come up with a reason to block an initiative that helps the middle-class, but can never think of a reason to block an initiative that gives more money to the rich?